House Study Bill 235
HOUSE FILE
BY (PROPOSED COMMITTEE ON
ECONOMIC GROWTH BILL BY
CHAIRPERSON THOMAS)
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act changing the allocation of moneys in the county endowment
2 fund.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 2546HC 83
5 tw/nh/5
PAG LIN
1 1 Section 1. Section 15E.311, subsection 2, Code 2009, is
1 2 amended to read as follows:
1 3 2. a. A county endowment fund is created in the state
1 4 treasury under the control of the department of revenue, and
1 5 within the fund there is created an account for each county in
1 6 the state.
1 7 b. The fund consists of all moneys appropriated to the
1 8 fund. Moneys in the fund shall be distributed by the
1 9 department as provided in this section.
1 10 Sec. 2. Section 15E.311, subsection 3, Code 2009, is
1 11 amended by striking the subsection and inserting in lieu
1 12 thereof the following:
1 13 3. a. At the end of each fiscal year, the moneys in the
1 14 fund shall be transferred into the separate accounts within
1 15 the fund according to the following formula:
1 16 (1) Twenty=five percent of the moneys in the fund shall be
1 17 credited on a pro rata basis to the account of each county in
1 18 the state.
1 19 (2) Seventy=five percent of the moneys in the fund shall
1 20 be credited on a pro rata basis to the account of each county
1 21 in the state that did not have a licensee authorized to
1 22 conduct gambling games pursuant to chapter 99F located in that
1 23 county during that fiscal year.
1 24 b. Moneys credited to a county's account pursuant to
1 25 paragraph "a", subparagraph (1), shall be transferred to an
1 26 eligible county recipient in that county to be used for
1 27 purposes of establishing a permanent endowment fund for the
1 28 benefit of charitable organizations for charitable purposes.
1 29 c. Moneys credited to a county's account pursuant to
1 30 paragraph "a", subparagraph (2), shall be transferred to an
1 31 eligible county recipient and distributed by the eligible
1 32 county recipient in the form of grants to charitable
1 33 organizations for charitable purposes.
1 34 d. In distributing the moneys, an eligible county
1 35 recipient shall give special consideration to projects that
2 1 include significant vertical infrastructure components that
2 2 enhance the quality of life in local communities.
2 3 e. If there is no eligible county recipient in a county to
2 4 which the moneys can be transferred, the moneys shall remain
2 5 in the county's account until there is an eligible county
2 6 recipient in the county.
2 7 f. The governing body of a charitable organization
2 8 receiving a grant pursuant to this subsection shall approve
2 9 all expenditures of grant moneys received and shall allow the
2 10 state to audit the expenditures.
2 11 EXPLANATION
2 12 This bill changes the allocation of moneys within the
2 13 county endowment fund.
2 14 Currently, the moneys appropriated to the fund may only go
2 15 to counties that do not have a licensee authorized to conduct
2 16 gambling games pursuant to Code chapter 99F. Of those moneys,
2 17 each county has to reserve 25 percent for a permanent
2 18 endowment fund that benefits charitable organizations. The
2 19 remaining 75 percent must be distributed as grants.
2 20 The bill provides that each county in the state gets a pro
2 21 rata share of 25 percent of the moneys in the fund, and that
2 22 the remaining 75 percent is reserved for counties that do not
2 23 have a licensee authorized to conduct gambling games pursuant
2 24 to Code chapter 99F. Moneys received from the 25 percent
2 25 allocation must be reserved for a permanent endowment and
2 26 moneys received from the 75 percent allocation must be
2 27 distributed as grants to eligible county recipients.
2 28 LSB 2546HC 83
2 29 tw/nh/5